I call the project HIWI and it's short for 'HTML Images - Without Images'. It's for things (like TiddlyWiki) where everything needs to be held in a single, and/or text-only, format. The ideas present also support in-browser image editing.
You could also just hit 'view source' :)
This version is a rough example using many hacks and shortcuts. In short:
Hacks in this version:
Issues with this version/idea: